Elon Musk has suddenly acquired a 9.2 percent stake in Twitter, making him a significant shareholder. Social media dedicates freedom of speech and the first amendment to freedom of the press. Musk’s ultimate goal is to seize 73.5 million shares worth around $3 billion in the United States.
Need to know
Twitter shares fell as much as 27% after Musk’s purchase was revealed on Monday. The stock has seen the biggest increase since the first day of trading, and the stake is about $2.89 billion.
Musk polled more than 80 million followers on Twitter a few months ago. And ask them if the company adheres to the principle of freedom of speech.
And the last 70% of followers said no, so that is the reason they have started in their own ways.
As we know, Musk has one of the biggest personalities on Twitter because he wants to start a social media company and Twitter is the best platform to start.
As the Twitter CEO said, Musk would bring great value to our board. And both are passionate and intense things that they have to grow on Twitter and stronger in the long term.
Few recent news that is good for knowledge
Unfortunately, Twitter is experiencing financial difficulties and thus is unable to implement the changes requested by its users. In other words, Musk’s inclusion on the board of the social media platform is an attempt to entice users to use the service.
The stake cloud leads to a more aggressive leadership role for Musk. It has been seen that Twitter is under particular pressure because, unlike Facebook, Google, Amazon, and Snap, they are not voting for the company. And the company has recovered from activist pressure, so they have a succession plan.
As we know, Musk is the world’s richest person according to the Bloomberg Billionaires list, and he has had about $1.1 billion since mid-March. So what kind of pressure is on the CEO of Twitter?
What is their future planning?
So here is an announcement about the new CEO of Twitter, Parag Agrawal, who replaced the old Twitter CEO, Jack Dorsey, who unexpectedly resigned last November.
So the new CEO, Agrawal, has vowed to the company to increase accountability, make some decisions faster and improve product execution.
They are making some improvements as users want an edit button and to correct misspellings. And set some goals for growth, such as increasing annual revenue to $7.5 million and getting to 316 million followers by the end of 2023.
Read More: Twitter launches Dark Web Service that protect people’s privacy on Internet
